SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
Commission File Number: 333-3954
NOTIFICATION OF LATE FILING
(Check One): [_] Form 10-K [_] Form 11-K [_] Form 20-F [X] Form 10-Q
[_] Form N-SAR
For Period Ended: September 30, 1999
[_] Transition Report on Form 10-K
[_] Transition Report on Form 20-F
[_] Transition Report on Form 11-K
[_] Transition Report on Form 10-Q
[_] Transition Report on Form N-SAR
For the Transition Period Ended: _________________________
Read attached instruction sheet before preparing form. Please print or type.
Nothing in this form shall be construed to imply that the Commission
has verified any information contained herein.
If the notification relates to a portion of the filing checked above,
identify the item(s) to which the notification relates:
PART I
REGISTRANT INFORMATION
IMC Mortgage Company
- -------------------------------------------------------------------------------
Full Name of Registrant
Former Name if Applicable
5901 E. Fowler Avenue
- -------------------------------------------------------------------------------
Address of Principal Executive Office (Street and Number)
Tampa, Florida 33617
- -------------------------------------------------------------------------------
City, State and Zip Code
PART II
RULE 12b-25(b) AND (c)
If the subject report could not be filed without unreasonable effort or
expense and the registrant seeks relief pursuant to Rule 12b-25(b), the
following should be completed. (Check box if appropriate.)
[X] (a) The reasons described in reasonable detail in Part III of this
form could not be eliminated without unreasonable effort or
expense;
[X] (b) The subject annual report, semi-annual report, transition report
on Form 10-K, Form 20-F, Form 11-K or Form N_SAR, or portion
thereof will be filed on or before the 15th calendar day
following the prescribed due date; or the subject quarterly
report or transition report on Form 10-Q, or portion thereof will
be filed on or before the fifth calendar day following the
prescribed due date; and
[ ] (c) The accountant's statement or other exhibit required by Rule
12b-25(c) has been attached if applicable.
<PAGE>
PART III
NARRATIVE
State below in reasonable detail why the Form 10-K, 11-K, 20-F, 10-Q,
N_SAR or the transition report or portion thereof could not be filed within the
prescribed time period. (Attach extra sheets if needed.)
The Registrant has been involved in the consummation of a sale of its
mortgage loan servicing and origination business to CitiFinancial Mortgage
Company. An asset purchase agreement was executed on July 13, 1999 and approved
by the Registrant's Board of Directors on July 30, 1999. Following execution of
the asset purchase agreement, the Registrant prepared a definitive proxy
statement pursuant to Section 14(a) of the Securities Exchange Act of 1934,
which was filed with the Securities and Exchange Commission on September 29,
1999. The sale of the Registrant's mortgage loan servicing and origination
business to CitiFinancial Mortgage Company was approved by the shareholders of
the Registrant on November 12, 1999. These activities have taken substantial
time and resources, which ordinarily would be used to prepare and file the
Registrant's Quarterly Report on Form 10-Q for the period ended September 30,
1999, and have caused the Registrant to be unable to complete this Form 10-Q on
or before the date on which it is required to be filed without unreasonable
effort or expense. The Registrant believes at this time that its Form 10-Q will
be filed within the grace period provided for under Rule 12b-25.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Stuart D. Marvin 813 984-2548
- -------------------------------------------------------------------------------
(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or 15(d) of the
Securities Exchange Act of 1934 or Section 30 of the Investment Company
Act of 1940 during the preceding 12 months or for such shorter period that
the registrant was required to file such report(s) been filed? If the
answer is no, identify report(s). [X] Yes [_] No
(3) Is it anticipated that any significant change in results of operations
from the corresponding period for the last fiscal year will be reflected
by the earnings statements to be included in the subject report or portion
thereof? [X] Yes [_] No
If so: attach an explanation of the anticipated change, both
narratively and quantitatively, and, if appropriate, state the reasons why a
reasonable estimate of the results cannot be made.
As more fully described in the Registrant's Annual Report on Form 10-K
for the fiscal year ended December 31, 1998 and the Quarterly Reports on Form
10-Q for the periods ended March 31, 1999 and June 30, 1999, since September
1998, the Registrant has been materially and adversely affected by significant
and adverse conditions in the equity, debt and asset-backed capital markets.
These adverse conditions have caused the Registrant in the three months ended
December 31, 1998, March 31, 1999 and June 30, 1999 to realize significant net
losses. The Registrant believes that these continuing adverse conditions, among
other things, will result in similar significant net losses for the three months
ended September 30, 1999.
2
<PAGE>
IMC Mortgage Company
- -------------------------------------------------------------------------------
(Name of Registrant as Specified in Charter)
Has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: November 15, 1999 By: /s/ Stuart D. Marvin
-------------------- --------------------------------
Name: Stuart D. Marvin
Title: Chief Financial Officer
INSTRUCTION: The form may be signed by an executive officer of the
registrant or by any other duly authorized representative. The name and title of
the person signing the form shall be typed or printed beneath the signature. If
the statement is signed on behalf of the registrant by an authorized
representative (other than an executive officer), evidence of the
representative's authority to sign on behalf of the registrant shall be filed
with the form.
ATTENTION
Intentional misstatements or omissions of fact constitute Federal
Criminal Violations (see 18 U.S.C. 1001).
GENERAL INSTRUCTIONS
1. This form is required by Rule 12b-25 of the General Rules and
Regulations under the Securities Exchange Act of 1934.
2. One signed original and four conformed copies of this form and
amendments thereto must be completed and filed with the Securities and Exchange
Commission, Washington, D.C. 20549, in accordance with Rule 0-3 of the General
Rules and Regulations under the Act. The information contained in or filed with
the form will be made a matter of public record in the Commission files.
3. A manually signed copy of the form and amendments thereto shall be
filed with each national securities exchange on which any class of securities of
the registrant is registered.
4. Amendments to the notifications must also be filed on Form 12b-25
but need not restate information that has been correctly furnished. The form
shall be clearly identified as an amended notification.
5. ELECTRONIC FILERS. This form shall not be used by electronic filers
unable to timely file a report solely due to electronic difficulties. Filers
unable to submit a report within the time period prescribed due to difficulties
in electronic filing within the time period prescribed due to difficulties in
electronic filing should comply with either Rule 201 or Rule 202 of Regulation
S-T or apply for an adjustment in filing date pursuant to Rule 13(b) of
Regulation S-T.
